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Abstract:Technological development is one of the main factors in the growth of total factor productivity in the economy and, as a consequence, of sustainable economic growth. In order to achieve the national objectives defined by the Decree of Russian President № 204, the implementation of which envisages a significant increase in productivity in the economy and accelerated technological development, it is important to understand how the introduction of new technologies influence on the transforming industries and increase of their productivity. The article proposes an approach to quantify the effects of the introduction of a key new industry technology to change the production function of companies in the industry in terms of changing their functional form and, as a consequence, the change in total factor productivity (TFP) in the industry. The proposed approach is tested on the example of the transition of the cement industry in Russia to the dry method of production. The results show that the introduction of new technology in the cement industry has led to a significant increase in TFP (an average of 47%), in particular, due to the changes in the intensity of the use of production factors, which, however, was not accompanied by a significant change in the functional type of industrial production functions.
Keywords:cement industry, production functions, technological development, total factor productivity
JEL-Classification: D24, L23, M11, O33
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